Culp (NYSE:CULP) Now Covered by StockNews.com

StockNews.com started coverage on shares of Culp (NYSE:CULP) in a note issued to investors on Thursday. The firm set a “hold” rating on the textile maker’s stock.

Culp Stock Down 0.9 %

CULP opened at $5.63 on Thursday. The business’s fifty day simple moving average is $5.36 and its 200 day simple moving average is $5.32. Culp has a 52 week low of $4.25 and a 52 week high of $6.85. The stock has a market cap of $70.71 million, a PE ratio of -3.35 and a beta of 1.18.

Insider Activity at Culp

In related news, insider Mary Elizabeth Hunsberger bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $5.55 per share, for a total transaction of $27,750.00. Following the acquisition, the insider now directly owns 15,000 shares of the company’s stock, valued at $83,250. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert George Iv Culp purchased 8,508 shares of Culp stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of $5.42 per share, for a total transaction of $46,113.36. Following the completion of the transaction, the chief executive officer now owns 78,029 shares in the company, valued at $422,917.18. The trade was a 12.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 31,495 shares of company stock valued at $167,062. Corporate insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Culp

An institutional investor recently raised its position in Culp stock. Geode Capital Management LLC grew its holdings in shares of Culp, Inc. (NYSE:CULP) by 14.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,825 shares of the textile maker’s stock after buying an additional 12,830 shares during the period. Geode Capital Management LLC owned 0.83% of Culp worth $680,000 as of its most recent SEC filing. 75.05% of the stock is currently owned by hedge funds and other institutional investors.

Culp Company Profile

Culp, Inc manufactures, sources, markets, and sells mattress fabrics, sewn covers, and cut and sewn kits for use in mattresses, foundations, and other bedding products in the United States, North America, the Far East, Asia, and internationally. It operates in two segments, Mattress Fabrics and Upholstery Fabrics.